Do forex traders use this forex strategy?

forexpolice · Oct 2, 2015

I am just wondering why all of a sudden I am seeing adverts of these systems developed by Larry and Bill on forums. Got me curious if forex traders still combine these indicators to form a strategy. example here http://www.frobet.com/larry-williams-strategy-signal-for-profitable-short-term-trades/

Are there newer indicators that I can use? I feel these ones are outdated or something.

FXTraderSK · Oct 2, 2015

No

Looks like a dumb strategy that gets you in late due to following signals from lagging indicators.

wartrace · Oct 4, 2015

In my humble opinion indicators suck if you are attempting to trade short term (5 - 10 minute trades). Every indicator out there is lagging as FXTraderSK mentioned. You are not doing yourself any favors by wasting time trying to find a magic indicator. Why do I feel this way? Years of trying to find the holy grail. :mad:

I do not trade forex but rather the 6E futures contract. I use the time and sales, the depth of market and a footprint chart from Rancho Dinero. I also incorporate some of Bob Volman's price action ideas. I use Jigsaw tradings T&S/depth tools.

forexpolice · Oct 6, 2015

You are both right. I figure out that the indicators changes only when the market has made it's move. This makes it difficult to take advantage of a trading opportunity. Well, I also see that when it produces it's signal, the trend may still continue and one can enter a trade. It is not always too late in my opinion, but the risk increases when the indicator lags.

By the way, what is the JigSaw trading you mentioned in your post @wartrace

wartrace · Oct 6, 2015

forexpolice said:
By the way, what is the JigSaw trading you mentioned in your post @wartrace

http://www.jigsawtrading.com/learn-to-trade/free-order-flow-analysis-lessons/
This is a link to their free educational materials. There is no need to sign up or give up your email address to look at them. If you have the time just watch and see if it looks useful to you. I have to warn you it probably won't work well with forex. It is designed for the futures market since it has a central exchange. There are other similar tools that are just as good; the link is just to give you an idea about trading the order flow.

Another site that has free order flow education is this one.
http://www.orderflowtrading.com/DSGoldsmith.aspx
I HAVE NOT purchased anything from them but the online "course" is something I think would be useful for you. This one deals with order flow in the forex market. You do have to give them an e-mail address for access but its worth it.

Just a word of advice. Don't give up if you don't get it right away. It took me quite a while before I started to see it.

wartrace · Oct 8, 2015

This morning (10/08/2015) between 4 and 5am CST was a great example. Just by watching the DOM I was able to see a guy scooping up every market sell order on the tape with an iceberg. It was a very low risk trade. No heat at all and I ended up with 20 ticks on each of two contracts.

stevegee58 · Oct 8, 2015

forexpolice said:
You are both right. I figure out that the indicators changes only when the market has made it's move. This makes it difficult to take advantage of a trading opportunity. Well, I also see that when it produces it's signal, the trend may still continue and one can enter a trade. It is not always too late in my opinion, but the risk increases when the indicator lags.

You'll see guys like this all the time. They can't make money trading but they are able to make money selling systems and signals, mostly to noobs.

Danielle Davidson · Oct 9, 2015

It's honestly hard to find a good way to trade online. I know that I've looked many up and they didn't help me out at all. If anything I was losing more money than anything. That's why I used demo accounts when I could because it was easier to use them so that I could figure out the way that worked best for me. It's good because you can trade without the risk of losing your own money.